Meeder Asset Management Inc. Trims Position in The Home Depot, Inc. (NYSE:HD)

Meeder Asset Management Inc. decreased its position in shares of The Home Depot, Inc. (NYSE:HD) by 5.6% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 521 shares of the home improvement retailer’s stock after selling 31 shares during the quarter. Meeder Asset Management Inc.’s holdings in Home Depot were worth $203,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Norges Bank bought a new position in shares of Home Depot in the fourth quarter worth about $5,032,910,000. Raymond James Financial Inc. bought a new position in Home Depot in the 4th quarter worth approximately $2,212,546,000. Proficio Capital Partners LLC boosted its stake in Home Depot by 21,394.9% in the 4th quarter. Proficio Capital Partners LLC now owns 2,039,862 shares of the home improvement retailer’s stock worth $793,486,000 after purchasing an additional 2,030,372 shares during the period. Vanguard Group Inc. raised its position in shares of Home Depot by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 95,763,752 shares of the home improvement retailer’s stock valued at $37,251,142,000 after buying an additional 875,836 shares during the last quarter. Finally, Amundi raised its position in shares of Home Depot by 8.6% during the fourth quarter. Amundi now owns 7,554,880 shares of the home improvement retailer’s stock valued at $2,925,498,000 after buying an additional 599,490 shares during the last quarter. Institutional investors own 70.86% of the company’s stock.

Analysts Set New Price Targets

HD has been the topic of a number of research reports. Wells Fargo & Company lifted their price target on shares of Home Depot from $440.00 to $450.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Piper Sandler decreased their target price on Home Depot from $435.00 to $418.00 and set an “overweight” rating on the stock in a research report on Monday, March 24th. HSBC upgraded Home Depot from a “reduce” rating to a “hold” rating and raised their price target for the company from $356.00 to $410.00 in a report on Wednesday, February 26th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $455.00 price objective on shares of Home Depot in a report on Wednesday, February 26th. Finally, Wedbush reissued an “outperform” rating and issued a $440.00 target price on shares of Home Depot in a report on Wednesday, February 26th. Nine equities research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $435.85.

Home Depot Trading Up 2.5 %

NYSE HD opened at $366.95 on Tuesday. The stock has a market cap of $364.76 billion, a PE ratio of 24.93, a PEG ratio of 4.03 and a beta of 1.09. The Home Depot, Inc. has a 12 month low of $323.77 and a 12 month high of $439.37. The company’s 50-day moving average price is $389.13 and its 200-day moving average price is $398.94. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65.

Home Depot (NYSE:HD) last issued its earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 EPS for the quarter, topping analysts’ consensus estimates of $3.04 by $0.09. The business had revenue of $39.70 billion for the quarter, compared to the consensus estimate of $39.15 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The company’s revenue for the quarter was up 14.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.82 EPS. Equities research analysts forecast that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were given a dividend of $2.30 per share. The ex-dividend date was Thursday, March 13th. This is a positive change from Home Depot’s previous quarterly dividend of $2.25. This represents a $9.20 dividend on an annualized basis and a yield of 2.51%. Home Depot’s payout ratio is 61.66%.

About Home Depot

The Home Depot, Inc operates as a home improvement retailer in the United States and internationally. It sells various building materials, home improvement products, lawn and garden products, and décor products, as well as facilities maintenance, repair, and operations products. The company also offers installation services for flooring, water heaters, bath, garage doors, cabinets, cabinet makeovers, countertops, sheds, furnaces and central air systems, and windows.